IIT-Madras to Foster Sports-Tech Startups with Rs 5 Cr Incubation Fund

IIT-Madras is set to bolster the sports-tech startup ecosystem in India by allocating funds up to Rs 5 crore to nurture innovative ventures in the field.

Through the IIT-Madras Pravartak Technologies Foundation and the Centre of Excellence in Sports Science and Analytics (CESSA), the institute aims to support startups leveraging AI and IoT-based solutions to enhance sporting excellence.

The initiative seeks to bridge the gap between technology and the sports industry, fostering the development of products and applications that revolutionize athlete performance and fan engagement. Areas of focus include media and entertainment platforms, athlete performance enhancement, sports data analytics, and esports, among others.

Startups interested in availing of this support can apply through the designated link provided by the IIT-Madras incubation cell. Shortlisted submissions will have the opportunity to pitch their business ideas during the inaugural ‘IIT Madras Sports Technology Start-up Conclave’ scheduled for June 14-15 at the IIT Madras Research Park.

Ramesh Kumar, CEO of CESSA, expressed the center’s commitment to nurturing innovation in sports technology, emphasizing the importance of collaboration between public and private stakeholders in driving ecosystem growth.

Prof Mahesh Panchagnula, Dean of Alumni and Corporate Relations at IIT Madras, highlighted the conclave’s significance in fostering sports tech innovation in India, particularly as the country prepares for potential Olympic bids.

Selected startups stand to receive investment support ranging from Rs 10 lakh to Rs 50 lakh, along with access to high-tech sports infrastructure, technical support, and a comprehensive startup ecosystem. Shankar Raman of IIT-Madras Pravartak Technologies Foundation emphasized the institute’s focus on empowering entrepreneurs to enhance athlete performance on a global scale.

With a track record of incubating over 351 startups and attracting significant investment, IIT-Madras aims to catalyze the growth of the sports-tech sector, driving innovation and creating opportunities for aspiring entrepreneurs.

Disclaimer: This information is covered based on the latest research and development available. However, it may not fully reflect all current aspects of the subject matter.

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